The iPhone 5 went on sale in China on December 14. Apple announced over the weekend that in only three days after that launch it has sold 2 million iPhone 5 smartphones. Apple also reasserted that the iPhone 5 would be available in more than 100 countries by the end of December marking the fastest iPhone rollout ever.

“Customer response to iPhone 5 in China has been incredible, setting a new record with the best first weekend sales ever in China,” said Tim Cook, Apple’s CEO. “China is a very important market for us and customers there cannot wait to get their hands on Apple products.”

Despite the successful rollout, Apple shares fell 3.8% in trading on Friday after the iPhone 5 debuted in China. Citi Research downgraded Apple stock from "buy" to "neutral" and lowered Apple's price target from $675 to $575.

Citi Research blamed diminishing hype for the iPhone 5 and improving competition in the smartphone market.

I am embarrassed to own a Apple product these days. I used to have an iPhone, but quickly got rid of it for something less Bieber-like. I still have an iPad, though I am reluctant to use it when there are other people around.

I feel this may be the way it turns out in the long run for most people. It was cool at first, but now it's just embarrassing to be so brand loyal.

I'd almost say that it was the Apple enthusiasts that did me in, and I don't want anything to do with it anymore.

This takes me back to the early seventies, when Timex watches were selling in N America for $10. When I was in Germany the watches were selling for $50 and higher. Swiss made watches were cheaper in Germany then Timex but more expensive in N America. That taught me a valuable lesson in Market Media Hype Advertising. Advertising Media Hype is all bullsh*t depending in what part of the world you live in. The Chinese are just coming out of the stone age and are going to be more dazzled by the glitz and glamor of the Media. It shouldn't take them to long to figure out the fluff from real. In the seventies we didn't have the net to make comparisons with the rest of the world, so the media ruled the roost. The market they go after is the young impressionable minds. Remember when the advertisers claimed that Ads didn't affect the young Saturday TV watchers. Well if it doesn't work their blowing billions every year. You can't get away from advertisers unless you go out in the bush fishing. Just stay away from other campers who use cell phones in case you see an apple logo.:)

These sales figures matter because(a) The tech world, ULTIMATELY, lives off money. If no-one wants to buy your product you die, no matter how cool your technology. Look at DEC Alpha. Look at Sun. Look at SGI. A large part of the future agenda of tech will be determined by the companies with money.

(b) This is about China, and China is clearly a rapidly changing place that will affect the rest of the world. The scale of the launch tells us something about the size of the population in China that is both interested in and can afford "middle-class" high tech. This in turns gives us a feel for the size of the population that will be inventing future tech.Huawei, for example, made a large number of submissions of ideas for the h.265 standard --- were you aware of that? Or in your imagination, is h.265 basically an American invention to which a few Europeans make a few minor modifications?

I understand you must sell your product.We do not NEED to know that the iphone sold X amount the first few days.

If it salls 200,000 copies or 100 millions copies, it made money, some wanted it right now. Wanting it right now DOES NOT make you money for the lang haul. If Apple sold 10 million copies in the first 2 weeks and then sold nothing else would that be good - nope!

Once again, don't be a child.We have AMPLE experience with the sales pattern of both new Apple devices and new computing devices, and that experience allows us to do a reasonable job of extrapolation from initial sales to total sales.(The same is also, by the way, true for most movies, although there the data is noisier.)

People like a means of being able to compare one object with another. For example, which car has a better safety rating, or which computer is better for playing games on, or which fighter plane is faster, etc. Sales figures are a means of gauging the popularity of one item against another. The figures aren't strictly accurate, but they can be used as a guide.In this case, any figure in the millions means a good sales distribution network and a market that can afford the item.